Under the acquisition, Glassbox will become an independent, privately held company positioned to drive category-defining innovation and sustainable growth.
Glassbox , a provider of AI-fueled customer intelligence solutions, announced that it has entered into a definitive agreement with Alicorn Venture Partners in an all-cash transaction valued at approximately $150 million.
Under the acquisition, Glassbox will become an independent, privately held company positioned to drive category-defining innovation and sustainable growth on its path to revolutionising the way companies engage and connect with their customers online.
The company will continue to be led by Chief Executive Officer Yaron Morgenstern and the existing management team.
Glassbox’s CEO Yaron Morgenstern, said, “Today’s announcement marks an exciting and pivotal time at Glassbox. Alicorn, a cornerstone investor since our early days, has renewed their commitment with this powerful backing, underscoring their strong belief in our vision for the future. This investment not only validates our cutting-edge AI innovations and robust customer intelligence platform, but also enhances our capacity to meet the evolving needs of our global clientele. With Alicorn’s support, we are ideally positioned to further accelerate our growth and continue leading innovation within the digital experience space.”
Alexander Assim, Managing Partner at Alicorn, said, “The Glassbox team are pioneers in integrating AI to revolutionise customer interactions. We share the company’s vision for the future of customer intelligence, making Alicorn the ideal partner to help scale Glassbox, as we cater to the increasing demand from large enterprises looking for significant improvements in digital experiences. We are enthusiastic about supporting Glassbox’s continued growth as a leader in this industry and using our operational expertise to elevate the company to new heights.”
Alicorn Venture Partners, a longstanding investor in Glassbox, has consistently supported the company’s growth over the past several years. Their latest investment reaffirms their confidence in Glassbox’s corporate strategy and market potential, particularly as the company doubles down on expanding its technological assets and AI capabilities.
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Glassbox will continue working with the world’s smartest digital brands across financial services and insurance, retail and ecommerce, and travel and hospitality to securely capture online customer data and elevate digital experiences in real-time. Customers across various industries and geographies trust Glassbox to understand the motivations behind online customer behaviours so they can delight and convert customers with seamless, intelligent digital experiences.
The transaction is expected to close in Q3 2024, subject to approval by Glassbox shareholders and the satisfaction of other customary closing conditions. Upon completion of the transaction, Glassbox will no longer be traded or listed on any public securities exchange. Glassbox is represented in this transaction by Herzog Fox & Neeman; Alicorn is represented by Fischer (FBC & Co.).
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